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Awareness of assets vital for property distribution in Michigan

On Behalf of | Feb 22, 2017 | Property Distribution |

There are many different factors to consider when choosing to end a marriage. One of the main concerns of a person who is going through a divorce in Michigan is likely property distribution. The situation may become increasingly complicated with a higher amount of property and assets, and seeking legal assistance for the process is often advisable.

There are a few different ways that property can be divided under these circumstances. Many of these situations are resolved by an agreement or property settlement. In the event that the parties are unable to reach an agreement, the unresolved issues may be decided by a judge. A person who is seeking to obtain an equitable portion during proceedings may benefit from having knowledge of this process, as well as any state laws and local court procedures that may apply to his or her situation.

When a marriage is at an end, many people are unprepared for what follows. Most people in this situation are aware of major property and assets gained during a marriage, such as houses and bank accounts, but covering everything involved can be difficult. Other less obvious things like memberships and memorabilia can easily be overlooked. While these may be viewed as lesser property to some, many people consider them invaluable.

The process of property distribution during a high asset divorce can be complex. Since this is often a stressful period, being able to account for all property and assets gained during a marriage can be challenging. A person in Michigan who is facing a similar situation may choose to speak with an attorney for help in navigating the process. An experienced attorney may be able to provide assistance in obtaining the best overall outcome for his or her situation.

Source: wtop.com, “Dividing unconventional assets“, Divani Nadaraja, Feb. 7, 2017